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William Hill Agrees ₤ 2.9 Bn Takeover

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작성자 Agueda
댓글 0건 조회 74회 작성일 25-10-20 05:54

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William Hill agrees ₤ 2.9 bn takeover by Caesars Palace owner

Entertainment, the Las Vegas casino-owner, has struck a ₤ 2.9 bn deal to take control of UK wagering firm William Hill.

The boards of the US company and William Hill agreed a money bet9ja's welcome offer of 272p a share subject to shareholders voting in favour.

US private equity company Apollo had likewise tried to take control of William Hill.

But Caesars stated that if the UK company picked Apollo, it would jeopardise a joint venture in between them.

Caesars owns a 20% stake in William Hill's US operations, which likewise have exclusive rights to run sports wagering under the Caesars brand name.

The US firm, which owns Caesar's Palace in Las Vegas, is particularly interested in William Hill's US bookmaking business which currently has 170 retail websites in 13 different states.

In August William Hill said it would not be reopening 119 of its UK High Street wagering shops after the coronavirus shutdown, stating it did not anticipate consumers to return in the numbers seen before the pandemic.

William Hill said its directors would "unanimously and unconditionally" recommend that shareholders accept the bet9ja's welcome offer.

The Caesars Palace owner intends to find other owners for William Hill's non-US businesses, including its more than 1,400 UK betting shops.

It said it would incorporate the US service into Caesars with very little job cuts.

The contract comes right after William Hill stated it was inclined to suggest Caesars' deal.

Roger Devlin, chairman of William Hill, said: "The William Hill board believes this promotion code is the very best choice for William Hill at an attractive price for investors."

Caesars primary executive Tom Reeg said: "The opportunity to combine our land based-casinos, sports wagering and online gaming in the US is a genuinely amazing possibility."

Caesars Palace-owner tables ₤ 2.9 bn William Hill bid

28 September 2020